State-run ONGC on Monday bid for 28 out of the 34 oil and gas exploration blocks on offer in the 9th round of auction under the New Exploration Licensing Policy (NELP). In all, 75 bids were received for 33 out of the 34 oil and gas blocks on offer with Oil India bidding for 17.
Furthermore, Reliance Industries bid for six oil and gas exploration blocks, while Cairn India submitted offers for two out of the 34 on offer.
Bids for the 34 oil and gas blocks, which include eight in deepwater areas, seven in shallow water and 19 onshore properties, close today. The government has hired UK-based Fugro Data Solutions Ltd to market the NELP-IX blocks.
In the eight rounds of NELP since 1999, 235 blocks have been awarded till date. This has resulted in enhancement of exploration coverage from 11 per cent to about 58 per cent of the total Indian sedimentary basin area in the country between 2000 and 2010.